Small businesses are the lifeblood of any city. They create jobs, inject new energy into the local economy, and serve as a training ground for entrepreneurs. In large cities, small businesses are even more important because they provide much-needed competition to the big corporations.
by David Stone
for Assorted Ideas, Large & Small
Small Businesses Challenged
But in many large cities, small businesses are becoming increasingly rare. This is due to a variety of factors, including high rents, tough competition from large businesses, and a lack of support from city governments.
As small businesses disappear from our cities, we are losing the very things that make them great places to live. That’s why it’s so important to support small businesses in large cities. Here are some ways you can do that:
–Shop at small businesses. This may seem like a no-brainer, but it’s really important. When you buy from small businesses, you’re supporting the local economy and helping to keep small businesses in business.
–Tell your friends and family about your favorite small businesses. Word of mouth is still one of the best marketing tools around.
–Write positive reviews online. This can be a great way to help them attract new customers.
–Attend small business events. These are usually held to promote and help them connect with potential customers.
–Become a small business advocate. Speak up when city governments are making decisions that could impact them.
Small businesses are critical to the success of large cities. By supporting them, we help ensure that our cities remain vibrant, lively places with a great mix of big and small businesses.
What small businesses are
Small businesses are important to the economy for many reasons.
First, they make up the vast majority of businesses in the United States. In fact, they account for more than 99% of all such concerns in the country. This means that they have a huge impact on the economy, both in terms of job creation and economic output.
Second, small businesses are typically much more innovative than large businesses. This is because they are less bureaucratic and have more flexibility to experiment with new ideas. As a result, they are often at the forefront of innovation, creating new products and services that can drive economic growth.
Finally, small businesses play an important role in promoting social mobility. This is because the efforts are typically started by people from less privileged backgrounds who have fewer resources to draw on. As a result, they help level the playing field by giving people from all backgrounds an opportunity to succeed.
The benefits
Small businesses are the backbone of the American economy, responsible for creating millions of jobs and fueling local economies across the country. In addition to their economic impact, they also play a vital role in our communities.
They are often the first to donate to local charities and causes, and their employees are typically more involved in civic activities than their counterparts at larger companies. As a result, small businesses help create thriving and vibrant communities.
In short, these enterprises are an essential part of the fabric of America, and their importance cannot be overstated.
How to support small businesses
Small businesses are the backbone of the American economy, yet they often struggle to compete against larger corporations. But there are several ways that consumers can support them and help level the playing field.
One simple way is to shop local whenever possible. By patronizing small businesses in your community, you give them the resources they need to grow and thrive. In addition, you can also spread the word about the operations that you love.
Posting positive reviews online and sharing your experiences with friends and family can go a long way toward generating new business. Finally, you can also volunteer your time or talents. Whether you offer to help with marketing or simply lend a hand around the office, your support will be greatly appreciated.
By taking just a few small steps, you can make a big difference in their success.
Important to the economy
I repeat, small businesses are the backbone of the American economy. They account for more than half of all private-sector jobs and produce more than half of the country’s GDP. They are also responsible for a large share of innovation and new job creation.
New jobs are essential for economic growth; small businesses create two out of three net new jobs in the United States each year. In addition, they generate a significant amount of revenue. In 2012, small businesses generated $1.3 trillion in revenue, which represented 45 percent of all private sector revenue.
Finally, operations with less than 100 employees are responsible for a large share of innovation in the United States. In fact, they are responsible for more than 60 percent of all new patent applications.
Examples of small businesses in large cities
“I’m going to NYC next week and I want to visit some small businesses there. Can anyone give me some examples?” one asks.
Small businesses are the lifeblood of any large city. They provide the essential goods and services that keep the city running, and they offer a unique sense of character and charm that makes the city feel like home. From food and drink to fashion and art, they play a vital role in creating the vibrant atmosphere of a large city.
Here are just a few examples of small businesses that help to make New York City such a special place:
• The Cupcake Stop: This small bakery has been a fixture in the East Village for over 15 years, and it’s become famous for its delicious cupcakes, artisanal coffees, and friendly service.
• Chinatown Ice Cream Factory: This family-run business has been churning out handmade ice cream in flavors like green tea and lychee since 1978. It’s a must-visit spot for any ice cream lover visiting New York City.
• Russ & Daughters: This world-famous delicatessen has been serving up smoked fish, caviar, and other Jewish specialties for over 100 years. It’s a must-visit spot for any foodie visiting New York City.
The above — because of the pleasure found at them — are all food shops, but other small businesses ring the streets nearby
Final thoughts
What small businesses provide to big cities is not just good jobs and economic opportunity, but also a community. They are the places where people gather to socialize, shop and dine. They are the places that give cities their character and charm. And they are an essential part of the fabric of urban life.
Sadly, small businesses in cities are under threat. Big box stores and online retailers are putting them out of business. But it’s not just about competition. Rising costs, red tape, and regulations make survival even harder.
We need to do more to support small businesses in our cities. We need to create a level playing field so they can compete. We need to cut red tape and make it easier for them to thrive. And we need to remember that without them, our cities would be far less livable – and far less special.
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